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Brookings audit shows clean opinion, strong cash position; council hears 2023 financial report
Summary
City auditors reported a clean (unmodified) opinion on the City of Brookings' 2023 financial statements and federal single-audit work, noting strong cash and liquidity ratios and a largely stable general fund after federal grant activity.
City auditors told the Brookings City Council that the city received a clean (unmodified) opinion on its 2023 financial statements and related federal single-audit work, with no audit findings.
Brian Stavanger, a partner at the audit firm who presented the high-level results, said the financial-statement audit and the federal program audit (including coronavirus state and local fiscal recovery funds) produced no findings. Stavanger said the city reported just over $60 million in cash and investments on a city-only basis at the end of 2023 and that the city’s liquidity ratio has remained well above commonly recommended minimums —…
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